March 10 (SeeNews) - Albania's finance ministry said on Friday it has selected JP Morgan, Intesa Sanpaolo Bank, Deutsche Bank, Standard Chartered and MUFG Bank to act as joint lead managers for a planned issuance of a 500 million euro ($529.1 million) Eurobond in 2023.
The selection was made based on the experience, market presence and capacity of the institutions, the risks that bear the proposals and the cost of the proposals, the finance ministry said in a notice.
The selected joint lead managers will also be responsible for ensuring a successful buyback of up to 250 million euro of an existing Eurobond maturing in 2025, according to an earlier notice by the finance ministry.
The contemplated maturity of the new Eurobond issue, Albania's sixth so far, is 5-10 years.
Albania's government issued a 650 million euro ten-year Eurobond in November 2021. Prior to that, Albania issued a 650 million euro seven-year Eurobond in 2020, a 500 million euro seven-year Eurobond in 2018 and a 450 million euro five-year Eurobond in 2015. The country's first 300 million euro Eurobond was issued in 2010.
($ = 0.944991 euro)